StockNews.com Initiates Coverage on Nordstrom (NYSE:JWN)

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Friday. The firm issued a buy rating on the specialty retailer’s stock.

A number of other research firms have also recently weighed in on JWN. Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Evercore ISI boosted their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Citigroup reiterated a “sell” rating and set a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $22.80.

Nordstrom Price Performance

Shares of JWN opened at $24.22 on Friday. The company has a market capitalization of $4.05 billion, a P/E ratio of 15.43 and a beta of 2.31. The business’s 50-day moving average is $24.11 and its two-hundred day moving average is $23.83. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a fifty-two week low of $19.45 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Research analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Nordstrom by 1.4% during the first quarter. Nisa Investment Advisors LLC now owns 30,809 shares of the specialty retailer’s stock worth $753,000 after buying an additional 439 shares in the last quarter. Versant Capital Management Inc grew its stake in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 470 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Nordstrom by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock valued at $2,845,000 after acquiring an additional 512 shares during the last quarter. Parallel Advisors LLC raised its holdings in Nordstrom by 48.6% in the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 553 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in shares of Nordstrom by 3.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock worth $465,000 after purchasing an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.